STR reports U.S. hotel performance for the week ending 29 November 2008

The U.S. hotel industry posted large year-over-year drop-offs in each of the three key performance measurements during the week of 23-29 November, according to data from STR.

The year-over-year decreases are in large part because of the date of Thanksgiving, which fell on 22 November 2007. This year, the holiday fell on 27 November, and historically, the Thanksgiving week is a slow week for the U.S. hotel industry.

In year-over-year measurements, the industry’s occupancy fell 22.6 percent to 41.5 percent (53.6 percent in 2007). Average daily rate dropped 12.2 percent to finish the week at US$90.84 (US$103.51 in 2007). Revenue per available room for the week decreased 32.0 percent to end the week at US$37.70 (US$55.48 in 2007).

“The numbers certainly aren’t the greatest, but they aren’t as bad as they may look,” said Mark Lomanno, president of STR. “Beyond the typical decline of the Thanksgiving holiday, the figures are in line with the downward trend the industry has been experiencing, especially when you consider the 28-day moving average.

“The last two weeks have been a bit of a roller coaster ride because the date of Thanksgiving shifted,” Lomanno added. “However, the industry appears to have settled into a pattern of declining year-over-year comparisons—a trend we expect to continue through at least the first quarter of 2009.”

About STR & STR Global: For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit .

The U.S. hotel industry posted large year-over-year drop-offs in each of the three key performance measurements during the week of 23-29 November, according to data from STR. The year-over-year decreases are in large part because of the date of Thanksgiving, which fell on 22 November 2007. This year, the holiday fell on 27 November, and historically, the Thanksgiving week is a slow week for the U.S. hotel industry. In year-over-year measurements, the industry’s occupancy fell 22.6 percent to 41.5 percent (53.6 percent in 2007). Average daily rate dropped 12.2 percent to finish the week at US$90.84 (US$103.51 in 2007). Revenue per available room for the week decreased 32.0 percent to end the week at US$37.70 (US$55.48 in 2007).